Alpine Associates Management Inc. Takes Position in Retail Opportunity Investments Corp. (NASDAQ:ROIC)

Alpine Associates Management Inc. bought a new position in shares of Retail Opportunity Investments Corp. (NASDAQ:ROIC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,350,000 shares of the real estate investment trust’s stock, valued at approximately $23,436,000. Retail Opportunity Investments comprises 1.4% of Alpine Associates Management Inc.’s portfolio, making the stock its 25th biggest holding. Alpine Associates Management Inc. owned approximately 1.05% of Retail Opportunity Investments as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROIC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Retail Opportunity Investments by 296.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,252 shares of the real estate investment trust’s stock worth $14,979,000 after purchasing an additional 711,835 shares during the last quarter. Alberta Investment Management Corp purchased a new position in Retail Opportunity Investments during the fourth quarter worth about $10,416,000. New York Life Investment Management LLC acquired a new stake in Retail Opportunity Investments in the 4th quarter worth about $6,389,000. Strategy Asset Managers LLC grew its holdings in Retail Opportunity Investments by 57.7% in the 3rd quarter. Strategy Asset Managers LLC now owns 876,179 shares of the real estate investment trust’s stock valued at $13,782,000 after buying an additional 320,520 shares during the period. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Retail Opportunity Investments by 171.1% during the 4th quarter. Wolverine Asset Management LLC now owns 262,585 shares of the real estate investment trust’s stock worth $4,558,000 after acquiring an additional 165,712 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

Retail Opportunity Investments Stock Performance

NASDAQ ROIC opened at $17.51 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.92. Retail Opportunity Investments Corp. has a 1-year low of $11.87 and a 1-year high of $17.52. The firm has a market capitalization of $2.26 billion, a P/E ratio of 38.07 and a beta of 1.45. The business’s 50-day simple moving average is $17.46 and its 200-day simple moving average is $16.72.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Retail Opportunity Investments in a report on Sunday, March 2nd. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Retail Opportunity Investments has an average rating of “Hold” and a consensus price target of $16.20.

Retail Opportunity Investments Profile

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.